Total amount raised
$188.9 Millions
Latest funding date
January, 2022
Location
Labelbox has successfully raised significant funding across multiple rounds, attracting investments from prominent firms such as Andreessen Horowitz and SoftBank. The platform specializes in providing comprehensive data solutions for AI teams, enabling them to generate high-quality data at scale.
Continue reading to delve into the details of Labelbox's funding journey and discover the key investors backing this innovative data-centric AI platform.
What Is Labelbox?
Labelbox, founded in 2018, is headquartered in San Francisco, California. The company was established by Brian Rieger, Daniel Rasmuson, and Manu Sharma.
Labelbox specializes in providing a data-centric AI platform that supports the development of intelligent applications. Their tools facilitate data visualization, exploration, annotation, model training, and on-demand labeling support.
With a team of 101-250 employees, Labelbox serves Fortune 500 enterprises and leading AI teams, helping them leverage advances in generative AI and LLMs for efficient AI product development.
How Much Funding Has Labelbox Raised?
- Seed Round
- Amount Raised: $3.9M
- Date: July 2018
- Lead Investors: Kleiner Perkins
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To establish the company and develop the initial version of the platform.
- Series A
- Amount Raised: $10M
- Date: April 2019
- Lead Investors: Gradient
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the team and enhance the platform's capabilities.
- Series B
- Amount Raised: $25M
- Date: February 2020
- Lead Investors: Andreessen Horowitz
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and accelerate product development.
- Venture Round
- Amount Raised: Not publicly disclosed
- Date: December 2020
- Lead Investors: IQT
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support strategic initiatives and partnerships.
- Series C
- Amount Raised: $40M
- Date: February 2021
- Lead Investors: B Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand market reach and enhance platform features.
- Series D
- Amount Raised: $110M
- Date: January 2022
- Lead Investors: SoftBank Vision Fund
- Valuation at Round: Over $1 billion
- Motivation Behind the Round: To accelerate global expansion and engineering innovations.
Total Amount Raised: $188.9M. Current Valuation: Over $1 billion.
Key Investors
- SoftBank Vision Fund 2
- Details: SoftBank Vision Fund 2 is a venture capital fund managed by SoftBank Group, focusing on technology investments. It is known for making large-scale investments in companies with significant growth potential.
- Investment Focus Areas: Technology, energy, finance.
- Notable Investments: Uber, WeWork, ByteDance.
- Andreessen Horowitz
- Details: Andreessen Horowitz is a private venture capital firm based in Silicon Valley. It invests in early-stage startups across various sectors, particularly in technology and software.
- Investment Focus Areas: Technology, healthcare, finance.
- Notable Investments: Facebook, Airbnb, Slack.
- B Capital Group
- Details: B Capital Group is a global venture capital firm co-founded by Eduardo Saverin. It focuses on investing in growth-stage companies that are driving transformative change.
- Investment Focus Areas: Technology, healthcare.
- Notable Investments: Bird, Atomwise, Icertis.
- Gradient Ventures
- Details: Gradient Ventures is Google's AI-focused venture fund. It invests in early-stage startups that are leveraging artificial intelligence to create innovative solutions.
- Investment Focus Areas: AI, machine learning, data analytics.
- Notable Investments: Algorithmia, Cape Analytics, Labelbox.
- Databricks Ventures
- Details: Databricks Ventures is the investment arm of Databricks, a company specializing in data and AI. It focuses on supporting companies that extend the lakehouse ecosystem.
- Investment Focus Areas: Data, AI, machine learning.
- Notable Investments: Labelbox.
What's Next for Labelbox?
Labelbox stands at the cusp of significant growth opportunities, driven by its expansion into diverse industries such as agriculture, insurance, healthcare, media, and military intelligence. With high-profile customers like ArcelorMittal, Chegg, Genentech, and Warner Brothers, the potential for large-scale growth is substantial. The recent $110 million Series D funding round, led by SoftBank Vision Fund 2, underscores investor confidence and sets the stage for accelerated global expansion and engineering innovations.
Future fundraising opportunities appear promising, with the company likely to attract additional venture capital rounds or strategic investments from industry partners. However, Labelbox will need to navigate challenges such as competition from other AI and machine learning platforms, the need for continuous innovation, and managing rapid growth. By leveraging its strong investor backing and focusing on enhancing its platform capabilities, Labelbox is well-positioned to capitalize on the growing demand for AI and machine learning solutions.
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